- Qwatio lost $823K as BTC and ETH shorts got liquidated on price spikes.
- Qwatio’s BTC shorts at $106K failed 15 times as the price kept trending higher.
- Dozens of Qwatio’s ETH shorts near $2,480 were wiped out by fast rallies.
A Hyperliquid user identified as Qwatio has been liquidated on $51 million worth of BTC and ETH shorts. The trades collapsed after entering high-leverage positions during price dips, only to get forced closed as the market reversed.
Chart Shows Aggressive Shorting Pattern Before Liquidation Events
According to a post by Lookonchain, the user has now been liquidated 15 times on BTC and 8 times on ETH. The 1-hour BTC chart from Hyperliquid tracks every short entry and liquidation event from June 21 through July 3.
On June 24, the chart shows that seven BTC short liquidations occurred as the price broke above $104,000. More shorts were opened near $106,200, followed by fresh liquidations when BTC pushed past $108,000. The price currently sits at $108,209, with the last liquidation marked at that level.
Two Massive Shorts Trigger $823K in Realized Losses
The liquidation was confirmed in the trade history tab, which listed a 282.828 BTC short closed at $108,370. That trade, valued at $30.65 million, incurred a $505,452.36 loss. Simultaneously, 8,282.8282 ETH was liquidated at $2,487, losing another $318,367.88.
According to a report by Hyperliquid, the user had entered both positions with aggressive size, as BTC and ETH showed minor weakness. The BTC trade carried an $8,588.69 fee, while the ETH trade was charged $5,774.25 in costs. Combined, the positions brought total realized losses above $823,000 within one liquidation cycle.
The data also shows dozens of smaller BTC shorts stacked at nearly identical prices around $106,299. Many of these trades were placed within seconds of each other, suggesting repeated entries or algorithmic positioning during local peaks.
Repeated Entries Amplify Risk Across BTC and ETH
Several BTC short positions were placed at $105,758 to $106,317, with one entry reaching 146.4599 BTC worth $15.57 million. That trade remains open without a recorded realized PnL but shows high exposure near liquidation territory. These entries point to repeated conviction in a downside move that never arrived.
ETH saw similar behavior. Two large short positions-2,336 ETH and 2,336.8 ETH-were opened near $2,448 and $2,487, respectively. Each was liquidated as ETH rallied past $2,480. Combined, these failed positions added over $8 million in trade value to the liquidation trail.
